Barbie will have a new agent in Japan as trading company Itochu Corp. has acquired master license rights to the U.S. fashion doll brand.
The multiyear deal with Barbie maker Mattel, Inc. was announced by Itochu on Thursday and includes all aspects of Barbie except toys.
Itochu will be allowed to develop Barbie-branded items such as clothing, miscellaneous goods and daily necessities, aiming to generate 8 billion yen in sales of these related products after three years.
Barbie first appeared in 1959. Since then, the doll has been a trendsetter in fashion and accessories.
Itochu Corp. plans to relicense the rights to its business partners to develop new products through collaborations with them. The company also plans to hold Barbie-related events.
One of Japan's largest trading companies, Itochu Corp. has been focusing on the brand business. Among other moves, in 2018 it acquired the exclusive right of import and distribution and master license in the Japanese market to Laura Ashley, the British lifestyle brand.
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